Property assessment notices have been mailed out and many British Columbia property owners are scrutinizing the numbers, bracing themselves for the effect on their 2025 tax bills.

The values are based on calculations by BC Assessment and intended to reflect on the market price of the property, as of July 1. 

While the assessment values are used to calculate property taxes, a higher assessment does not necessarily mean the tax bill will rise and a lower assessment does not necessarily mean a tax break.

The assessments are used to calculate a property91ÂãÁÄÊÓƵ™s share of the tax load. It is one factor in the final bill, but it is not the only one.

The municipal budget, set out each spring, determines how much money will be used for a community to provide services to its residents. 

If the budget remains identical to the previous year91ÂãÁÄÊÓƵ™s budget, then the property tax bills should show little to no change, even if properties are worth considerably more. 

Or, if a community government91ÂãÁÄÊÓƵ™s costs have risen, the result will almost always translate to a tax hike, even if all property values decreased.

The budget is determined by the mayor and council or members of a regional district board. Before the budget is approved and adopted, it must go through public consultation, with open houses and information sessions to outline the details of where the money will come from and where it will go.

Typically, budgets will increase as costs required for municipal services tend to rise each year.

Those who have concerns about how their local government is managing money need to speak up now, well before the budget is adopted. This includes those who think taxes could be reduced if certain budget items were scaled back or eliminated entirely, as well as those who believe additional funding is needed to create new amenities or enhance existing ones.

Putting the efforts into this process will affect one91ÂãÁÄÊÓƵ™s tax load far more than any fluctuations in assessment values.

91ÂãÁÄÊÓƵ” Black Press